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Tezos Ecosystem DAO Receives Generous Funding for Community Growth
Tezos Commons has announced a significant contribution to the Tezos Ecosystem DAO. As shared on their Twitter account, the Tezos Foundation has granted approximately $50,000, equivalent to 72,000 tez, to support the growth and operation of the Tezos Ecosystem DAO.
By: XTZ News
31 August 2023
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Tezos Commons has announced a significant contribution to the Tezos Ecosystem DAO. As shared on their Twitter account, the Tezos Foundation has granted approximately $50,000, equivalent to 72,000 tez, to support the growth and operation of the Tezos Ecosystem DAO.
The grant, as clarified by Tezos Commons, isn’t for their benefit but is designated solely to nurture the Tezos Ecosystem DAO. The entire amount is being promptly allocated to the DAO Treasury, where it will be available for ecosystem grants.
Tezos Commons announced the new funding for the DAO on Twitter:
We are excited to share that the @TezosFoundation has generously granted $50,000 in funding to kickstart the Tezos Ecosystem DAO!
On behalf of the Ecosystem DAO members, we would like to invite the community to begin submitting applications.
They followed this up with an open invitation to the Tezos community, encouraging them to submit applications and proposals. Instructions on how to submit a proposal for the DAO’s consideration can be found here.
This latest funding influx isn’t the first for the Tezos Ecosystem DAO. The initiative began with the aid of Felipe Vargas, the artist who designed the Tezos upgrade memorabilia. The sales of these memorabilia as Non-Fungible Tokens (NFTs) on Objkt.com significantly boosted the DAO’s initial funds.
Tezos Commons has extended an invitation to all within the Tezos ecosystem – from artists and developers to builders and gamers – to seek funding through the DAO. They are encouraging applications for various projects, encompassing areas like development tools, Dapps, games, Tezos integrations, content creation, and more.
The Tezos Ecosystem DAO, as described in a detailed post by Corey Soreff of Tezos Commons, functions as a platform to curate, vote on, and distribute tez to facilitate various initiatives within the Tezos community. Its governing body currently includes Tezos Commons, Trilitech, Tezos Domains Foundation, Tezos Foundation, and Tezos India Foundation.
An integral aspect of the DAO is its commitment to transparency. Proposals are curated by Tezos Commons, after which they are proposed to the DAO on-chain. The DAO then votes on the funding request, with approvals leading to an execution by the DAO and the allocation of the requested amount to the applicant.
The DAO’s creation is perceived as a progressive step in the Tezos community, complementing the Nairobi upgrade. It aims to provide a seamless and transparent funding process compared to traditional grant methods, thereby fostering the growth of the Tezos ecosystem.
As a proof of concept, the Tezos Ecosystem DAO is in its early stages and may evolve based on feedback and requirements. Plans for its future include introducing more DAO signers, allocating voting power based on a Tezos baker’s stake, and incorporating other potential sources of funding, such as inflation funding.
For those interested in participating, submitting initiative applications is possible via Tezos Agora, following a specific template provided by Tezos Commons.
Given the DAO’s transparent nature, any interested individual can view its operations live on Tezos Homebase and even participate in governance discussions or request DAO grants on Tezos Agora.
This groundbreaking initiative has been warmly received, signifying Tezos’s unwavering commitment to continuous evolution in the blockchain domain. The combination of decentralized operations and community involvement makes the Tezos Ecosystem DAO a pioneering venture in promoting innovation within the Tezos community.
Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.
Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.
User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.
Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.
Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.
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